Sapporo city of Hokkaido Prefecture, the northernmost island of Japan revealed projected costs and benefits to host the Winter Olympic Games in 2026, estimating the construction cost at 213.4 billion yen out of total 404.5 billion yen cost. Production value induced by the games is estimated at 540.4 billion yen in the host city, while the economic spillovers effect is expected to reach 1 trillion yen all over the nation. The city government will make a decision to bid or not by the end of the year based on results of public survey.

Out of the total 99.5 billion yen cost to develop the sports venues, it will cost 86.8 billion yen to replace existing facilities such as gymnasiums and a skating rink with new ones that meet the required standards to hold the Olympic Games. Another 113.9 billion yen budget will be necessary to build affiliated facilities such as Media Center and Athlete’s Village. The event-induced production will amount 1.05 trillion yen nationally and more than 76,000 jobs are expected to be created.(2014/09/29)